What is a brand stretching?
brand stretching is a term used to describe a method where companies use brand names on a new market. In general, the process begins when businesses come up with new products that seem supplementing other successful products that already produce. The new items then name and place on the market in a way that allows consumers to know that they are directly associated with old products. This is generally intended to create confidence in a particular consumer and attract people who used the original product. Stiring brand is generally considered to be effective marketing tactics to launch something new, but can also potentially damage the name brand unless new products are successful.
In a good way to understand the stretching of the brand, it would be to consider a hypothetical company known for creating TVs. Over time, the company could develop a strong reputation of quality and eventually the company may decide to expand to a new category of products such as video gay machines orcomputers. In this situation, the company could rely on stretching the brand by nameing and marketing its new product, so that consumers immediately connect it to their TVs, maybe even use the same precise name Convention used in the name of TV and the same graphics of packaging. Advertising for a new product could emphasize the company's name and try to help consumers to establish connections.
Most experts believe that brand stretching works because of the way consumers psychologically perceive products. Many people are very untrustworthy new products when they buy, and may even buy things they don't like to prevent the risk of buying something they don't recognize. This kind of resistance and anxiety from the unknown can be very difficult for society to successfully launch something new and the brand stretching is the way of risking risk. When consumers see a brand thatThey know and trust from some other market sector on a new product, they can be more inclined to try it, especially if it has a good connection in their minds.
According to most marketing specialists, the brand does not necessarily have to be correct in every situation. For example, a company known for shaving products may not want to combine their shavers with a frozen food product trying to introduce. Some people also think that there is a real danger that they are generally dressed in the brand, too often on too many different products, especially if some of these products become a failure.